November 25, 2024 5:27 am
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Phoenix industrial market on pace for another all-time high

Real Estate Daily News

Well-rounded activity could help market surpass absorption record set in 2005

The Phoenix industrial market is on pace to hit an all-time high absorption record, according to the new Q3 Phoenix Industrial Insight report just released by the Phoenix office of JLL. The last peak came in 2005, when the market absorbed 7.9 million square feet of industrial space during a single calendar year.

As of Q3, the Phoenix industrial market has recorded more than 6.1 million square feet of positive net absorption, making 2017 the fourth consecutive year of at least 6.0 million square feet of space absorbed. According to JLL, another 1.1 million square feet of pre-leased space is expected to deliver by the end of the year.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.